The extent and determinants of SDG disclosures in Vietnamese listed firms

Abstract

Purpose

The purpose of this study is to assess the extent of Sustainable Development Goals (SDGs) disclosures among Vietnamese listed firms and identify key influencing factors.

Design/methodology/approach

The authors analyse SDG-related disclosures of the top 100 listed firms by market capitalisation on the Hanoi and Ho Chi Minh stock exchanges as of December 31, 2023, using an established reporting methodology. Data were sourced from annual, corporate governance, ESG, financial and sustainability reports. A regression model was used to examine factors influencing SDG disclosure.

Findings

SDG disclosure among Vietnamese firms is relatively low. Corporate governance, firm size, government ownership, industry and Global Reporting Initiative (GRI) usage positively influence disclosure levels, while auditing firm type and firm age show a negative association. Financial firms tend to use sustainable development reports and GRI indicators more frequently.

Practical implications

Practically, strengthening governance frameworks and promoting GRI adoption can improve the quality and extent of sustainability reporting among Vietnamese firms. Socially, enhanced SDG disclosure supports improved corporate practices that align with the United Nations SDGs, fostering a more sustainable and transparent economy in Vietnam.

Originality/value

To the best of the authors’ knowledge, this is the first study examining SDG disclosure and influencing factors in Vietnamese listed (2021–2023), using the GRI (2016) standard. This study contributes to transparency in Vietnam’s financial markets and sustainability practices, offering insights for preparers and policymakers.

Citation

Nguyen, H.C. and Duong, H.K. (2025), "The extent and determinants of SDG disclosures in Vietnamese listed firms", Meditari Accountancy Research, Vol. 33 No. 1, pp. 335-364. https://doi.org/10.1108/MEDAR-08-2024-2605